Aberdeen Investments has acquired the mixed-use Standbrook House building on Old Bond Street for an undisclosed price.
The building comprises two retail units let to high-end watchmaker Richard Mille and luxury leather and fashion goods brand Tod’s, four floors of offices and two residential apartments.
This deal is the second significant investment made this year by Aberdeen Investments on behalf of the Standard Life Pooled Pension Property Fund, following the acquisition of Sears Retail Park in May.
David Stewart, fund manager at Aberdeen Investments for the Standard Life Pooled Pension Property Fund, said: “This acquisition represents a strong addition to the fund’s portfolio, aligning with our strategy of investing in high quality assets with long-term income and capital growth potential. It follows a series of disposals of industrial assets, which were sold at competitive pricing. We anticipate further acquisitions in London in the near future.”
Chapman Petrie and Hall Lahaise acted for Aberdeen. The vendor was represented by JLL and CBRE.
